secwatch.observer — SEC 8-K summary
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Issuer:     Douglas Emmett Inc (DEI)
CIK:        0001364250
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001364250-23-000047
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Douglas Emmett Q2 net loss $7.3M, FFO -8.4%; guidance cut $0.07 on Barrington Plaza vacate
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- Revenue $253.4M (+2.6%); net loss $7.3M ($0.04 loss per diluted share) vs net income a year ago.
- FFO $96.4M ($0.48/sh), down 8.4%; AFFO $74.9M, down 16.5% on higher interest and construction costs.
- Same property Cash NOI down 0.9% to $150.1M; office leasing 957k sq ft signed, cash rents down 6.6%.
- Barrington Plaza vacating 712 units for fire safety upgrades; expected FFO reduction of ~$0.07/sh.
- Closed $350M term loan at SOFR+1.37%; repurchased 7.6M shares at avg $12.13 in Q2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1364250/000136425023000047/0001364250-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1364250/000136425023000047/nysedei-20230801.htm
  HTML page:      https://secwatch.observer/filing/0001364250-23-000047

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